Our news stories can be in the form of e-shots, ‘white papers’ or social media commentary, but we will not comment on trivial matters – you will not see us mentioning on what type of coffee we are drinking whilst waiting for a train! You can catch up on our previous commentaries below.
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Missing Data
It didn’t come as a surprise to us when we saw the recent comments by the chair of the Committee of Public Accounts where it was stated that both RBS…
Jones v Kaney
The legal press seems to be fixated with comment on the Jones v Kaney, [2011] UKSC 13, decision where after hundreds of years of expert immunity, the position was reversed.…
Fraud on a lenders mortgage book
The recent findings from the Financial Services Authority’s mortgage fraud review indicated that although some lenders have adequate checks and controls in place, Tracey McDermott, acting director of enforcement and…
Proper risk assessments?
Nearly three years before statutory mortgage regulation John Tiner, the then Managing Director of the Financial Services Authority, said during a speech at the Council of Mortgage Lenders conference “We…
Controlling mortgage forbearance
The recently published FSA consultation paper on forbearance (loan modification) and impairment provisions in relation to mortgages has attracted a vast amount of comment about how it could lead to…
Capita v Drivers Jonas
The recent Capita -v- Drivers Jonas decision seems to have been largely missed by the mortgage trade press despite receiving some coverage in valuation related publications. However, in our view,…
The risk of sole supplier audits
In the 2009 government review into banks corporate governance, led by Sir David Walker (former chairman of Morgan Stanley) one of the views expressed was that banks and other financial…
An investment opportunity or millstone?
Research shows that there has been a 184% increase in the availability of buy-to-let (BTL) products over the last six months. Another recent survey revealed that 74% of mortgage intermediaries…
Data held by Institutions
It didn’t come as a surprise to us when we saw the recent comments by the chair of the Committee of Public Accounts where it was stated that both RBS…
Buy to Let Equity Erosion
As long ago as December 2001 John Tiner, the then Managing Director of the FSA, referring to buy to let lending at a CML conference, said “We would not wish…
DB Mortgages fined £840,000 by FSA
The FSA is not letting up the pressure on lenders as evidenced by another significant fine issued against a UK lender. Yet again the amount was substantial and the resultant…
Interest Only – a thing of the past?
Even before the FSA Mortgage Market Review consultation, true interest only mortgages were coming under fire. Lenders are tightening their criteria and making it more difficult for customers to obtain…
FSA Regulation
Regulation of the Mortgage Trading Market The Financial Secretary to the Treasury announced a package of measures last month, intended to enhance consumer protection in the mortgage market. As part…
MMR – Regulators against self-certification
Recent Mortgage Market Review (MMR) consultations seem to confirm the regulators stance that self-certification mortgages should be consigned to history. Rockstead has never been anti self-certification. In fact, our view…
Portfolio Maintenance – Supplier Review
We speak to numerous holders of mortgage portfolios and discuss how we can help them review their Third Party Suppliers (TPS) and ensure they are complying with their contractual obligations.…
Vendor Due Diligence
An interesting development has been seen in the mortgage book trading scene over the past few months. Since 2007 there have been relatively few trades going on, but those that…
